Saxo Bank is seeking to expand its asset management and online trading activities, The Wall Street Journal reports. The Danish investment bank rolled out its first branch of Saxo Privatbank earlier this month, offering traditional banking services through an office in Copenhagen. The Copenhagen-based bank increased its assets to around $5.98 billion in 2010, up from $3.66 billion a year before. To boost its online wealth management business, Saxo Bank bought a 25% stake in Banco Best, a subsidiary of Portugal’s Banco Espirito Santo, in 2009.
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